In order for such a transfer to be a "true sale", the seller must not have any obligation to fund the repayment of the sub-participationloan.
为了使这种转移是一个“真实销售”，卖方必须在没有任何义务，基金的还款小组参与贷款。
2
A loanparticipation is a back-to-back arrangement where the lender of record manufactures payments to the participation party equal to receipts on the loan in return for funding or an indemnity.
贷款的参与是一个背靠背的安排，贷款人支付给参与方等于收益的贷款的记录制成品，以换取资金或赔偿。
3
Equity loanloan in the form of equity participation.